Scalability

The BTC COINM (coin-margined) futures market is a significant and growing segment of the cryptocurrency derivatives market. As of 2024, BTC COINM Open Interest (OI) represents approximately 26% of the total perpetual futures market, with a current value of around $7 billion. Historically, this percentage has reached as high as 51%, indicating substantial market participation.

Looking forward, we project that the BTC COINM market will continue to grow alongside the broader BTC perpetual futures market. This growth is expected to be driven by increasing institutional interest and the ongoing maturation of cryptocurrency derivatives markets. The scalability of Aegis USDa is thus supported by the robust liquidity and growing participation in the BTC COINM market, ensuring that USDa can scale effectively as market demand increases. This positive outlook for market growth is based on historical trends and the anticipated expansion of cryptocurrency trading infrastructure.